Toro's Running of the Bulls Market Blog

Former Federal Reserve Governor Frederic Mishkin, a professor at
Columbia Business School, said it was "a huge mistake for the
government to think it knows the best size of financial institutions."
At the same time, he acknowledged that financial institutions are
encouraged to get too big "because they are likely to be bailed out."

I have made the case on a number of occasions that the Canadian real estate market, or at least parts of it, have been in a bubble. As someone who grew up in Saskatchewan, it was mind-boggling to me to see the prices of homes in Saskatoon - a city surrounded by prairie with -40C temperatures in the winter - double in two years such that Saskatoon became a

From the conversations I have had with investment professionals over the past while, it is my belief that the biggest surprise in the market would be if economic growth was strong and sustainable for some time.

It would surprise the heck out of me. Though I believe economic growth will beat estimates over the next few quarters as inventories are rebuilt and companies re-hire as demand picks up, I expect growth to be substandard for several years.

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